According to Foresight News, Web3 consumer application Setter has completed a $5 million seed funding round led by a16z, with participation from Marcy Ventures Partners, Superlayer, Thirty Five Ventures, and retired tennis star Serena Williams. Setter plans to help brands innovate the way they promote exclusive products and provide limited edition items for customers. The platform aims to address the 'complexity and unfriendliness of current wallet technology' and offer a more seamless Web3 experience for a wider range of users.